Dar es Salaam, April 29 -- KILIMANJARO: PLANS to establish the National Cooperative Bank (NCB) have taken shape thanks to a new push that sees some 85.5 per cent of its share sold.

The new bank has managed to raise 17.1bn/- after selling shares out of 20bn/- planned to be collected ahead of its inauguration in less than two months and is championed by KCBL bank.

The KCBL General Manager, Mr Godfrey Ngurah, said the 17.1bn/- worth of shares was sold to cooperatives, 8.7bn/-, institutions 1.9bn/- and individuals 6.5bn/-.

“We are confident to raise the targeted amount since several cooperatives have shown interest to buy shareswhile CRDB plans to further invest in the bank,” Mr Ngurah told ‘Daily News on Sunday.

NCB is ...